Anytime you own property or a business, there is a possibility that you could face a lawsuit. Someone could become injured on your property, a tree on your property could fall on a neighbor’s house, or creditors could sue you to collect a debt.
You can take steps to protect your property and assets from being taken away from you, but you must have this protection in place before a lawsuit occurs. In some cases, more than one type of asset protection may be needed, because no single type can protect you from all possible claims on your assets and property….